Market Comment | Italian banks held the yield increase in Europe after the Fed’s rate hike

Summary

As expected, the FOMC increased the Fed funds rate by 25 bps to 0.75%. The Fed also hinted at a more hawkish strategy, signalling three interest rate hikes next year (see BBVA Research Fed Watch). Consequently, US sovereign yields spiked and the USD strengthened significantly. Following the announcement, the EUR reached all-time lows against the […]

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